China’s ICBC mulling Mideast expansion through acquisitions

February 19, 2014 1:09 am

The world’s largest lender, Industrial & Commercial Bank of China (ICBC) has said it is considering acquisitions in the Middle East, as part of its expansion into the region, Bloomberg has reported. “We’re looking to see if there are acquisition opportunities,” said the bank’s CEO for the Middle East, Zhou Xiaodong. “It’s a good strategy. Part of the reason why ICBC grew so fast in Hong Kong is because of acquisitions.”